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      January 24, 2020

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Net Quote vs Cover Wallet

To help you find the Best Business Insurance, provides you with an in-depth comparison of Net Quote and Cover Wallet.

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Get Business Insurance with Hiscox Today! All businesses should have at least basic protection. In fact, depending on your business type and State, you may be required to have coverage. Policies exist today that financially protect business owners against injury costs and related medical bills, legal defense costs, property damage, liability claims for loss of a client's private electronic data and negligence of temporary staff.

Shopping for the best small business insurance does not have to be time consuming or stressful. There are a number of insurance companies that work to provide the best quotes for small business, sometimes in only minutes. This allows shoppers to compare and contrast the best policies and pricing quickly and efficiently.

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Business Insurance Reviews

3 stars
Net Quote


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Net Quote works to match insurance companies with small business owners. The service is free and entails several different insurance companies contacting you directly. Net Quote works with all 50 States and provides insurance shoppers access to business, health, life, auto insurance and more. Net Quote currently holds an A+ Better Business Bureau rating.

The process is rather straightforward at Net Quote. The shopper simply completes a basic questionnaire and then submits. Upon completion of the questionnaire, they'll receive an email that lists all the agents in your area that you've been matched with. In turn, your phone number and email address are given to the same agents, who will then begin to contact you.

While technically delivering on the promise to give you multiple quotes, their method does not give the shopper the chance to do any initial comparison without the hassle of speaking with a potentially pushy insurance agent. Net Quote does work with some of the larger solid insurance companies including Allstate, Nationwide, American Family and others.

For those that have much time on their hands, which is probably very few business owners, they may enjoy speaking with each and every agent to weed through the different coverage options and premiums but, for most of us, the higher ranked companies provide a convenient smart approach to business insurance shopping.

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2 stars
Cover Wallet


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CoverWallet is the brainchild of a group of tech entrepreneurs who wanted to build a better insurance-buying process for other business owners. Based in NYC, this company seeks to give companies the ability to manage all of their policies online in one place.

The quote process with CoverWallet is initially straightforward. Choose the type(s) you need from among these categories:

  • General Liability
  • Workers Comp
  • Business Owners Policy
  • Commercial Property
  • Professional Liability
  • Commercial Auto
  • and more than 20 other categories

You can also select “I don’t know or I’ll decide later” if you just want to browse. Answer a few questions about your company, like business location, start year, years of experience, projected annual revenue, form of business entity (LLC, Corporation, etc.), and so on. Once you enter your contact information, your quote will be emailed to the address you specify. After providing details to those initial questions, CoverWallet will recommend policies that might apply to you. In our case, they recommended General Liability and Professional Liability.

We appreciated that we could see how much more time we might need to enter the additional required information to apply for the kinds of insurance the service recommended, or we could choose “not now” if we just wanted to continue the application.

Because we initially selected the “I’ll decide later” option, we got to the end of the quote process and were told that CoverWallet didn’t have any policies for us to consider - which makes sense. But, it was aggravating when we tried to go back and select “General Liability”, because we found we had to start the entire question-and-answer process from the beginning. There may have been a way to save our information or create an account, but there was no obvious way for us to tell if that was the case. On each screen, we were given a photo, name and number of a personal advisor we could call with questions, which was a plus.

We were disappointed to see that CoverWallet had a “B” grade at the Better Business Bureau at the time of our review, primarily based on more than 20 complaints filed against the company - and 25 of them were in the 12 months leading up to the date this review was compiled. While CoverWallet is accredited by the BBB, they’ve only been in business for 4 years, so it left us wondering if they’re still working out some of the kinks with respect to customer service.

The most troubling aspect of CoverWallet’s service is the number of complaints we found that said that the company made significant mistakes when policies were issued to business owners. Multiple people said that the policy recommended by CoverWallet didn’t actually cover what they needed, and that requests for help, service, and eventually refunds went unanswered. That may be due to the fact that CoverWallet isn’t the actual insurance company backing the policies, but that doesn’t excuse their lack of response when customers they referred need help.

While CoverWallet may partner with top-notch, trusted insurance companies to provide Business Insurance coverage, the process of getting to a quote is enough to deter even the most determined professional. And, the lackluster reputation with the BBB means that CoverWallet winds up at the bottom of our rankings for now. We hope to see positive changes in the near future, as CoverWallet gains more experience within the Business Insurance industry.

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Continued from above

When deciding on which company to start with, for your business insurance needs, consider the following first:

  • Reliability. Does the company in question have a strong Better Business Bureau rating? How strong in their A.M. Best (insurance rating) compared to others? Will the company be honest and reliable when you most need them?
  • Convenience. Can you obtain small business insurance quotes online or do you have to speak to an agent? Will you only speak with 1 agent or several?
  • Informative. Is the website educational and informative? Will it help you decide what type of business insurance you need to best cover you financially? has reviewed and ranked the best Business Insurance services available today. We hope these reviews help you protect your business with the right insurance today!

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